Fiat Chrysler Automobiles will be headquartered in London

Article by Andrew Christian, on May 12, 2014

Fiat Chrysler Automobiles chief executive Sergio Marchionne has disclosed that the merged carmaker will be based in London, United Kingdom. This means that Fiat would essentially move away from its Turin, Italy headquarters, its home for the past 115 years. Chrysler is currently based in Auburn Hills, Michigan.

Marchionne said that Fiat Chrysler’s group executive functions, board, his office, and some of his functions will be based in London. He, however, said that this doesn't mean he will give up operational responsibilities of the United States.

“We will be multi-faceted,” he quipped. Fiat completed a $4.35-billion transaction in January taking full control of Chrysler and pave way for the establishment of the seventh-largest auto group in world. At the time, Fiat Chrysler was believed to have its primary listing in New York, with a secondary listing in Milan.

It was also believed to be registered in the Netherlands and have its tax domicile in the UK. Both politicians and unions in Italy have expressed worries on possibility of more job losses a result of the headquarters transfer, although Marchionne has been saying that the merger would not affect impact on jobs in Italy or elsewhere.

Independent auto analyst John Wolkonowicz told Reuters that Fiat Chrysler choosing London as a headquarters makes sense for several reasons like London being a financial capital and being centrally located among Fiat Chrysler’s faraway businesses.

He added that London made the company avoid the burden of choosing either Turin, or Michigan, since the UK capital is a neutral ground.

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

A big chunk of Volvo Cars’ legacy in developing the most durable and capable car is evident in its latest Cross Country collection. Suffice it to say, our planet has...
by - September 21, 2016
Just very recently, we were all delighted to finally see a Bugatti Chiron out in the streets casually hanging around Cannes in France. The said car was purchased by a...
by - September 9, 2016
Earlier this year, Aston Martin wowed the world with a stunning concept car – the Vanquish Zagato. The concept made its first appearance in May during the Concorso d’Eleganza Villa...
by - September 7, 2016
Lamborghini has always been known to be the home to exotic supercars. The Italian automaker’s production facilities have hosted uniquely designed and powerful show-stopping supercars. It all started with the...
by - September 5, 2016
Have you ever heard of the name Kris Singh? If you’re passionate about cars, you’ve probably come across this name at some point while you scour reports about the latest...
by - September 2, 2016